Empirical analysis shows global oil prices influence the Vietnamese stock market, suggesting domestic factors dominate.
This study investigates the influence of global oil price fluctuations on the Vietnamese stock market, using quarterly data from 2013 to 2024. Employing a Vector Autoregression (VAR) model and Granger causality tests, we analyze the dynamic relationships between the Vietnamese stock market (represented by the market capitalization to GDP ratio), global oil prices (Brent crude), inflation (CPI), money supply (M2), and economic growth (GDP). The results indicate that global oil prices have a limited short-term impact on the Vietnamese stock market, while long-term effects are statistically insignificant. This suggests that the Vietnamese stock market is primarily driven by domestic factors.
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Phuong Lan (2025) studied this question.
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